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During remarks on the Senate floor, Sen. Elizabeth Warren (D-MA) encouraged a Democratic rebellion while ripping and shredding Wall Street and House Republicans for trying to weaken financial protections will giving Big Banks a huge gift in the government funding bill.
The campaign provision would permit a tenfold increase in donations that individuals can make to national political parties each year, to $324,000 from $32,400, according to a statement by Fred Wertheimer, president of Democracy 21. The group advocates for changes to campaign finance laws.
The banking language, insisted upon by Republicans, would ease rules enacted to protect taxpayers against bank losses after souring derivatives trades helped cause the 2008 financial crisis. The dispute over the banking rule is a preview of Republican plans to roll back other business regulations when they take control of both chambers in 2015.
Believe me we are really going to get screwed The American people have brought HELL on themselves by giving the GOP such power
originally posted by: IAMTAT
HA HA HA! Democrats want to shut down the Government!
You can't make the hypocrisy up with these guys!
originally posted by: Willtell
originally posted by: IAMTAT
HA HA HA! Democrats want to shut down the Government!
You can't make the hypocrisy up with these guys!
Apparently the American people like the government shut down since they went and voted in the GOP.
Anyway your premise is wrong since as many GOP politicians are against the bill based on their aversion to Obama’s immigration reform
So let me say this to anyone listening at Citi —I agree with you. Dodd-Frank isn't perfect. It should have broken you into pieces.
originally posted by: Willtell
a reply to: IAMTAT
And the GOP arent conservative sycophants of the rich?
Who steal and rob the country
Who ruined the economy and millions of 401 k plans?
The same GOP who now has gotten those same thieves a good deal
That’s who you like?
Then you are either one of them or a masochist or worse that I can’t say
More Democrats than Republicans Sit on 10 Richest Members of Congress List
While Republicans often get the reputation for being “the party of the rich,” seven of the 10 richest members of Congress are Democrats, according to the Center for Responsive Politics (CRP).
On December 11, 2014, the US House passed a bill repealing the Dodd-Frank requirement that risky derivatives be pushed into big-bank subsidiaries, leaving our deposits and pensions exposed to massive derivatives losses. The bill was vigorously challenged by Senator Elizabeth Warren; but the tide turned when Jamie Dimon, CEO of JPMorganChase, stepped into the ring. Perhaps what prompted his intervention was the unanticipated $40 drop in the price of oil. As financial blogger Michael Snyder points out, that drop could trigger a derivatives payout that could bankrupt the biggest banks. And if the G20’s new “bail-in” rules are formalized, depositors and pensioners could be on the hook.
The new bail-in rules were discussed in my last post here. They are edicts of the Financial Stability Board (FSB), an unelected body of central bankers and finance ministers headquartered in the Bank for International Settlements in Basel, Switzerland. Where did the FSB get these sweeping powers, and is its mandate legally enforceable?
The Global Bankers’ Coup: Bail-In and the Shadowy Financial Stability Board